What is an Opportunity Zone?
Public Law 115-97, also known as the Tax Cuts and Jobs Act of 2017, provides for the governor of each state to nominate certain census tracts as “Opportunity Zones”. Designation as an Opportunity Zone allows for the creation of a new class of investment vehicle with tax advantages authorized to aggregate and deploy private investment located in Opportunity Zones. The purpose of these tax advantages is to attract capital investment into economically distressed areas.
Find more information here: https://gonm.biz/business-development/edd-programs-for-business/finance-development/opportunity-zones/
Portales Roosevelt County Opportunity Zone
Census Tract 35041000300
A recent demand study clearly indicated that there is tremendous need and opportunity in the Roosevelt County/Portales NM community for Independent Housing, Assisted Care, Memory Care, and Physical Therapy. The Roosevelt General Hospital has adjacent property available for such a project, located on US Hwy 70 on the southside of Portales, NM. The Project location will make it convenient for the Senior Community residents to easily and conveniently travel to their health care needs, doctor appointments, etc. RGH Medical Staff can make also make house calls as needed. Beehive Homes responded to the RFP with a 3-Phase plan with estimated costs of $5million/phase.
Potential Future Projects
Senior Living Facilities
Agriculture Expansion (Vineyard, Barley, Hemp)